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Osamu Suzuki, who led Japanese automaker into India, dies at 94

Osamu Suzuki, an ingenious pennypincher who led Japan's Suzuki Motor for more than four decades and played a key role in turning India into a flourishing auto market, has died aged 94. The inexpensive, boxy, 660-cc cars specific to Japan benefited from generous tax breaks, but demanded a stringent reining-in of costs that proved to be a key part of the automaker's DNA. Even so, Suzuki's thriftiness was legendary: he would order factory ceilings lowered to save on air-conditioning and fly economy class on airplanes even at an advanced age.

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European Shares Steady While US Futures Decline: Markets Wrap

(Bloomberg) -- European stocks struggled for direction in subdued holiday trading, failing to build on gains in Asia amid a rally in Japanese exporters that benefited from the yen’s recent weakness.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayThe Stoxx Europe 600 index was little changed as trading resumed after a two-day break. Delivery Hero SE shares plunged after Taiwan’s anti-trust regulator vetoed the sale of its Foodpanda business to Uber Technologies

China Launches Probe Into Beef Imports as Local Farmers Struggle

(Bloomberg) -- China has started a probe into beef imports, to decide if a surge in shipments from overseas has hurt the domestic sector, the Ministry of Commerce said Friday.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayThe investigation, launched at the request of domestic industry associations, would usually end within eight months, but may be extended under special circumstances, according to a statement on the ministry’s website.China’s beef producers a

Indian Rupee Posts Steepest Single-Day Loss Since February 2023

(Bloomberg) -- Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayThe Indian rupee fell the most in almost two years as month-end dollar demand by importers weighed on the currency.The rupee dropped 0.6% to a fresh record low of 85.7437 per dollar on Friday, marking its largest single-day loss since February 2023. Concern over

Thai Government Suffers Setback in Bid to Sway Central Bank

(Bloomberg) -- The Thai government’s campaign to pressure the Bank of Thailand to cut interest rates suffered a significant setback, with the Office of the Council of State effectively ruling that the official nominee to be chairman, former finance minister Kittiratt Na-Ranong, is not suitable.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayWithout directly naming Kittiratt, Secretary-General Pakorn Nilprapunt said in a statement that “Mr. K’s” role as an advi

Nissan Megadeal Sets Up Next Fight for Bankers in Japan M&A Boom

(Bloomberg) -- Japan’s record dealmaking activity this year isn’t giving foreign firms much holiday cheer: For now, the field remains mostly dominated by the local megabanks and law firms with deep ties to the corporate world.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayAt roughly $200 billion, the volume of transactions including mergers and acquisitions in the country is up 48% this year, data compiled by Bloomberg show. That compares with a 17% increase

Bitcoin Rally Fizzles as Token’s Record-Breaking Year Winds Down

(Bloomberg) -- A Bitcoin rally is fizzling in the final days of a record-breaking year for the digital asset, as investors assess the remaining impetus from President-elect Donald Trump’s embrace of the cryptocurrency sector.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayThe largest token changed hands at $96,200 as of 6 a.m. Friday in London, partly paring a retreat of almost 3% from a day earlier. Smaller rivals including Ether and Dogecoin, a favorite of t

Iron Ore Hits Five-Week Low as Traders Fret About Chinese Demand

(Bloomberg) -- Iron ore sank to the lowest in more than five weeks — falling below $100 a ton — as poor industrial profits in China highlighted the nation’s economic weakness, although mills’ performance did improve.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayFutures touched $99 a ton in Singapore, on course for a second weekly loss. As a whole, China’s industrial firms saw profits drop in November for a fourth month, putting them on track for the sharpest

Egypt Holds Key Rate Even as Inflation Shows Signs of Easing

(Bloomberg) -- Egypt held its benchmark interest rate steady on Thursday, opting to keep it at a record high even as double-digit inflation eased to the lowest level in two years.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayThe Monetary Policy Committee kept the deposit rate at 27.25% and the lending rate at 28.25%. The decision was in line with expectations, with all but one of 11 economists surveyed by Bloomberg predicting no change. Most economists see E

Elon Musk’s Go-To Cost-Cutter Is Working for DOGE

(Bloomberg) -- Elon Musk’s deputy Steve Davis has spent more than 20 years helping the billionaire cut costs at businesses like SpaceX, the Boring Company and Twitter — making the engineer by training a natural choice for his new role at Musk’s Department of Government Efficiency, or DOGE for short.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayDavis is helping recruit staff at DOGE, Musk’s effort to reduce government waste, in addition to his day job as pres

South Korea Dec exports seen up for 15th month in row, but momentum slowing

South Korea's export growth is expected to have risen in December for a 15th straight month, but analysts feel momentum could moderate in the year ahead as concerns about possible U.S. tariffs heat up, a Reuters poll showed on Friday. That would be the 15th successive month of annual export growth but analysts see the rate slowing in the coming year as demand for South Korean goods is expected to weaken, except for semiconductors, analysts said. The U.S. president-elect has pledged to impose big tariffs on imports from major trading partners including China, South Korea's biggest trading partner.